Vide Order No. 193 of 2012 dated 17.10.2012, the CBDT has ordered that several IRS officers in the grade of ACITs be promoted to the grade of DCITs

Transfer of e-filed returns to old/orphan/defunct Jurisdiction may lead to problem in timely processing of returns. Therefore the above procedure was devised to address the problem of processing of the e-filed returns received through the website in which PANs were to be migrated to AOs based on the correct AO codes of the PAN of the e-filer.

As per new procedure for Individual PAN transfer requests, transferor/source officers (AO/Range/CIT) have to take a decision on system either to allow and confirm the request, originating from transfree/destination Assessing Officers or to reject the request.

Notification No. 42/2012 In the Income-tax Rules, 1962, after rule 112E, the following rule shall be inserted, namely:- Class or Classes of cases in which the Assessing Officer shall not be required to issue notice for assessment or reassessment of the total income for six assessment years immediately preceding the assessment year.

The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head Salaries during the financial year 2012-13 and explains certain related provisions of the Income-tax Act, 1961 (hereinafter the Act) and Income-tax Rules, 1962 (hereinafter the Rules). The relevant Acts, Rules, Forms and Notifications are available at the website of the Income Tax Department- www.incometaxindia.gov.in.

Vide Finance Act, 2012, certain retrospective amendments were made in Income-tax Act, 1961 (hereinafter referred to as the Act), intended to clarify and restate the legislative intent of the source rule of taxation for non-residents in India. In particular, they addressed situations where transfers took place exclusively between such non-residents—hence indirectly—of underlying assets in India. The relevant section 9(1)(i) of the Act became effective retrospectively as of 01 April 1962.

Vide Order No. 186 dated 04.10.2012 the CBDT has ordered the transfers & postings of several officers in the grade of Commissioners/ Directors of Income-tax with immediate effect.

It is hereby notified for general information that the organization National Law School of India University, Bangalore has been approved by the Central Government for the purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from Assessment year 2011-12 onwards in the category of “University, College or Other Institution”, engaged in research in social science research subject to the following conditions, namely

The Board has decided that the Income-tax offices all over India shall make special arrangements by opening of receipt counters on 29th & 30th September, 2012 being Saturday & Sunday respectively for the convenience of taxpayers.

Non-receipt of quarterly reports as per the CBDT Instruction No. 7 of 2011 The CCIT/CIT shall ensure due adherence to this instruction. In order to facilitate monitoring, a register shall be maintained in the office of CIT as per Annexure-IV to this Instruction.